In what was supposed to be a record-setting week for Bitcoin, the digital asset’s momentum ran into a brick wall and the asset’s value plummeted. However, Mark Yusko, the President of investment firm Morgan Creek Capital Management, remains unfazed by the negative press surrounding the turn of events.

No Reason to Fear

Yusko took to Twitter to slam the recent negative press surrounding Bitcoin. The investment expert explained that all of the negative headlines were ploys from the traditional financial space, with many looking to slow Bitcoin’s adoption.

As Yusko pointed out, incumbents have always tried to use whatever power they can to slow the adoption of innovative concepts. Whether it is government regulation or media attention, there is no shortage of tactics from the traditional space. However, as he highlighted, the strategy has never worked and won’t this time too.

The CEO also highlighted that repression tactics would only deter speculators from trusting the asset. Real investors understand that Bitcoin has some significant value offering, and they will be willing to stick to the asset in the long term.

“Every asset has fundamental Value based on metrics specific to the asset & a Price based on level where 2 individuals agree to exchange some amount of that asset in real-time Investors are long-term holders focused on Value & Speculators are short-term holders focused on Price,” he said.

Yusko has long been a fan of Bitcoin over the traditional financial system. Last May, he told CNBC: Fast money that Bitcoin was a better investment than the stocks which make up the S&P 500 index. This year, he has taken things even further, blaming the dollar for an investor exposed that has only benefited Bitcoin.

As he told the same news source earlier this week, “zombie companies” which always need assistance in times of crisis have put significant pressure on the Federal Reserve. Since they can’t pay their debts, the Fed has had to devalue the currency – weakening the dollar and causing investors to dump it.  

Yusko added that the trend would continue if the government is unable to control the pandemic son enough. The United States will see a continued mass exodus from cash, and Bitcoin will benefit even more.

Testy Times for Bitcoin

While Yusko appears to be resolute in the face of FUD, it is worth noting that Bitcoin isn’t out of the woods just yet. Many expected the asset to break the all-time high mark this week, especially since it got as high as $19,300. However, the leading cryptocurrency has seen a massive pullback and has been battling to stay above the $17,000 threshold since Thursday.

While it is true that real investors will understand Bitcoin’s value, many also see it as an investment asset. If its value drops to a level, many who are using the leading cryptocurrency as a hedge could exit the market and protect themselves.

With news of coronavirus vaccines, the stock market is healthy again. The Dow crossed the $30,000 mark for the first time this week, and it remains above the $29,000 threshold. An investor flight from Bitcoin is always in the cards.





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